Foreclosure auctions at Business Foreclosure

 “There’s so much inventory out there that the buyer can pick and choose,” said Susan Sirles Fidler, a Realtor at Re/Max 10, Oak Lawn. But she cautioned, “The stuff that’s almost free is almost free because it’s going to cost you an arm and a leg to put it back together. It’s not buyer beware as much as buyer be smart.”
                        found at chicagotribune.com.

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Foreclosure auctions + video

By Ben Tracy found at CBS Jan. 30, 2008

In California, it's a new kind of land rush.

One-thousand homes lost in the real-estate wreckage are auctioned off to a crowd of thousands in Los Angeles - up to 40 percent off.

"Sold!" said one auctioneer with a gavel bang. "$170,000, sir, you're the buyer."

In Stockton, Calif., bargain buyers tour foreclosed homes courtesy of the repo-bus.

"Obviously we've got a full house," said one bus driver.

Debra Knowles, a home loan consultant said: "They're reaping the benefit, unfortunately, of someone else's loss."

New numbers out today show California among 10 states hit hardest by foreclosures in 2007. That's 250,000 homes taken by the bank.

A home in foreclosure is seen in Pasadena, Calif., Jan. 15, 2008.  (AP Photo/Nick Ut)

Osmar and Norma Canas are newlyweds buying a foreclosed home in Southern California - and they got it for $40,000 off the list price.

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